Tuesday, December 19, 2006

FORD Analysis for 12.19.2006

Monthly chart shows prior resistance at $4.51 - $4.00 area to have been short term support. Last month saw more selling to test the current support. Key level here needs to hold to see any further upside movement.

Last week sellers were in control, taking price down to test the $4.00 low. This week, early buyers slowly coming in to test support area.

Current low holding as support for now. Early buyers showing up on Monday and Tuesday were met with selling at higher prices. Price could still go either way. No strong signal as of yet.

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